An Overview of Personal Loans

With the economy in such dire straits, many people are looking to different types of loans to take care of their bills while searching for second jobs. Personal loans are loans made directly to the borrower from a bank or lending house. Covering everything from medical bills to credit cards to student loans, these loans are helping people get what they need, when they need it. While there are many different types of personal loans, the can all be categorized as one of two different types: secured and unsecured. Which type of loan you get is dependent on what you will be using the money for. Some loans are available in both secured and unsecured options, while others are only found as one or the other.

Secured personal loans are provided by specific lenders, and have their repayment secured by a physical item. This is how they get their classification. The two most common types of secured loans are home mortgages and car loans. The loans are made specifically for a single purchase. This purchase is repaid in set amounts every month over the length of the loan. If payments are ceased, the lender repossesses the item – the car or the house – in lieu of payment. In contrast, Unsecured Personal Loans are the more common and the more recognizable. Unsecured loans cover a vast majority of ground, from store lines of credit to student loans to medical bills. Once these loans are issued, they can be used for a range of items and services. In addition, many unsecured loans have variable interest rates that can change monthly or annually.

For people who need extra money to pay for a car or a college education, personal loans are available to help fund their needs lenders are available for all credit situations.

Fairfield lawyer named state chair

Scott M. Charmoy of Fairfield will serve as the National Association of Consumer Bankruptcy Attorneys' (NACBA's) new state chair of Connecticut.

Charmoy will serve as the official liaison between the group's leadership in Washington, DC, and its member attorneys, bankruptcy judges and other court officials in the state, as well as serving as a primary contact for local media regarding consumer bankruptcy issues.

Charmoy is an active member of the Commercial and Bankruptcy Law Section of the Connecticut Bar Association. He was admitted to practice before the Connecticut State Court in 1995, the U. S. District Court, District of Connecticut, in 1995, the Second Circuit Court of Appeals...

September secured lending hits £58m

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Fraud Accounts For 94% of SIF Losses: Onsite Coverage

ALEXANDRIA, Va. Under questioning from NCUA Board Member Mark McWatters, outgoing NCUA CFO Mary Ann Woodson said Thursday that almost all of the losses from 2014s credit union failures were a result of fraud.

Woodson told the NCUA Board that $28.6 million (94%) of the $30.4 million in losses to the NCUSIF from the 12 credit union failures this year related to fraud.

Woodson delivered the NCUSIF quarterly report at the NCUA board meeting on Thursday.

A lesson learned for this agency: spend more time thinking about things like fraud as opposed to regulation, McWatters said.

I take exception to that comment, NCUA Board Chairman Debbie Matz responded.


Loans Warehouse hails Paragon return

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TCA Closes $5 MM Line of Credit With MyECheck

Related: Press Release, News
MyECheck, Inc. (OTC PK: MYEC), the leader in electronic check solutions for internet and mobile payments, announced today that it has secured a $5 million USD line of credit from TCA Fund Management Group ("TCA"), a US-based investment management company that specializes in senior secured lending and advisory services to small and medium sized companies.

Terms of the agreement are that MyECheck will initially draw down approximately $550,000; will pay approximately $60,000 in fees in cash; issue approximately 3.8 MM shares and establish a share reserve fund (to be determined) to TCA and its associates.

"We are very pleased that TCA, through...

Police: Brooklyn man found with 16 fake credit cards, skimmer

GLEN -- A Brooklyn man pulled over for speeding was arrested Friday night in Montgomery County after police found a credit card skimming device and 16 fraudulent credit cards in his car, State Police said.

Rahshawn S. Mayo, 25, was charged with misdemeanor criminal possession of stolen property, misdemeanor possession of a skimmer device, two counts of felony possession of a forged instrument, and violation unlawful possession of marijuana.

This is the second case in a little over a week where State Police have found a credit card skimming device, said Trooper Matthew Izbicki, Troop T public information officer. Its a little bit alarming to us.

A skimmer is a device attached...

Man charged with possession of fake credit cards, skimmer

GLEN - A 25-year-old from Brooklyn was charged with credit card fraud after, State Police said, they caught him with fake credit cards and a skimmer, a device attached to ATMs and other electronic devices to steal credit card information.

Rahshawn S. Mayor was taken into custody after troopers said they stopped his car on the Thruway for speeding on the Thruway.

Police said they found a small amount of marijuana in the car as well as the skimmer device and the credit cards.

Mayor was charged with a felony count of possession of a forged instrument as well as misdemeanor counts of criminal possession of stolen property and possession of a skimmer. He was also charged with...

Clive police looking for suspects in stolen credit cards case

These suspects used stolen credit cards to buy thousands of dollars worth of computers and electronic items at Target stores, the Apple store and Best Buy stores, according to a Clive Police Department news release.(Photo: Special to the Register/Clive Police Department)

The Coolest Small Business Loan Product

The words cool and small business financing dont often go together. However, a California non-profit has managed to combine the best feature of a merchant cash advance, with the best feature of a conventional loan. The resulting product, called EasyPay, can only be described as cool.

What is a merchant cash advance? In a merchant cash advance, a business sells future credit card receipts in exchange for an immediate lump sum cash payment. Rather than paying back the cash advance and interest, the business agrees to pay a fixed dollar amount. A set percentage of their incoming credit card / debit receipts go to the merchant cash provider until the agreed upon amount is paid back.


Police arrest Irondale man accused of using stolen credit cards


An Irondale man has been charged with burglary and fraudulent use of a credit card.

Police say Richard Lee Meeks, 32, broke into a home in the Shannon community on October and stole jewelry and credit cards.

Within hours of the incident, Meeks was caught on camera using the stolen card at Lowes in Bessemer and Walmart in Homewood.

The sheriffs office published the surveillance images on October 23. The next day, an Irodale police officer saw a Ford Explorer he thought could be the one in the surveillance photos and pulled it over.

Meeks was inside the vehicle and police recognized him as the man from the surveillance images.


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